The price of oil is expected to rise above $200 per barrel. That will push the price of gasoline above $6 / gallon. The bottom line is that the supply of crude oil is limited and not increasing as fast as the demand.
Jeff
Oopsie: forgot the link:
I posted about this a month ago. I think some folks in many groups that I posted it in told me I was full of shit. I know a bit about oil because I live in one of the cities in Texas that has a lot of headquarters for oil. Also, my uncle works for one of the major oil companies. He himself acknowledges that oil is finite and that those in his company expect it to reach over 200 a barrel.
When I posted about 200 a barrel, the cost of barrel was at 112... It is now
138?
Actually, I think $200 is conservative. And it won't come back down.
Jeff
I think oil execs are right in one area. We need to drill at home while we change to other sources of energy. There is enough oil in the gulf, alone, to take care of our needs as we turn the other page.
How about speculators buying and selling oil futures?
How about the evidence that the speculators are having a marked influence, say more than 10% of the price?
Jeff
One expert was saying we have 65 BILLION barrels off the coasts of the U.S.!
The enviro-extremists won't allow access to it.
Yet most of the oil and the oil market is outside the US. Even with the addition of the gulf oil, there won't be enough oil to affect the price of oil that much.
Of course, it will help the national deficit.
Jeff
Well, it is technically two people who won't allow access to it. They are Republican's and Democrats. I think that is about to change though.
The old thought was "save it for when its needed..." or "eat whats on their plate before you eat whats on yours." I think the time has come to eat whats on ours.
That's about one year's world usage. While it is obviously a lot, it would take several years to develop an oil field. And, several years until peak production is reached. So, at best, it would supply about 10% of the world's production for a while. So it will lower prices, but not that much.
What percentage of Americans want the US to drill off the coasts? And, if the percentage is over 50%, why don't they vote for people who will make that happen?
Jeff
That's not on our plate. It is under ground. what about global warming?
Jeff
I think you'll see the price of crude drop soon. Just my opinion of course. It will be up and down over the next dozen or two dozen years till the fact finally comes home that there is only so much oil in mother earth, then shxx will hit the fan. I hope we have a plan B in place by then.
Why? IS the supply going to increase? Saudi Arabia is already maxed out. And the other supplies are close to maxing out. But demand is growing in countries like India and China.
I mean, what is your opinion based on?
Shxx? I think it is called shit.
(it begins with 's' and ends in 't' It comes out of and it comes out me I know what you're thinking, but lets not call it that Let's be scientific and call it scat)
I think the shit is already hitting the fan.
Unfortunately, the US is not very fuel-efficient.
Jeff
I hope we have a plan B in
It's probably a good thing. Whenever I'm driving to and from sales calls during the day the streets in S. Florida are full of cars. Where are all these people going, who's minding the store and doesn't anyone work.. are often my thoughts.
Maybe people will finally realize the worthlessness of their SUV's and downsize once and for all. All you see are SUV's with one person in them. When you ask SUV owners why they own them, they say 'how else will I cart all my kids and the dog around'...
Also it is forcing auto maufactureres into a miles per gallon arms race. While sitting in my chiropracter's office recently I read an article about a 2015 model volvo that will get 160 miles per gallon. They are just fine tuning the software and other details.
The electric motors are at the wheels and it's a hybrid with no transmission. The theory is the transmission is responsable for up to
20% loss of energy...I just think technology will rise above. In the mean time, while the arms race is not so quietly underway, one would be foolish to buy a new vehicle in the next 30 months or so..
What's under ground under our land is in our basket. ;-)
I believe global warming is real. However, the reality is that we have to use gasoline while we continually move to cleaner resources. Therefore there is nothing wrong with using our resources during that transition. We are making great strides that are leading us to cleaner sources of energy without the commie laden kyoto protocol.
China and India are going to learn the hardway. We have a chance to be prepared when they are not...
Bacteria eventually die because they have a natural instinct to maximize until there is nothing left to feed on. I hope we are not as small as bacteria.
Many people in S. Florida are retirees. With that said, people drive for jobs all of the time. People have to go to lunch meetings, meetings, etc.
Why is that one year's world usage? Who cares about the world's needs when we should be using that oil for the US needs. That will have the effect of lowering demand for the rest of the world and ultimately the price.
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